INSURANCE NEWS
Louisiana Identifies State’s First Known Case of Monkeypox
Louisiana’s first detected cases of monkeypox have been found in a state resident and a visitor from out of state, the Louisiana Department of Health reported last week. “There are likely more undiagnosed human cases of monkeypox existing in Louisiana …
Insurers Wrangle Over Amber Heard Defamation Costs
A little over a month after a jury found that actress Amber Heard had defamed ex-husband Johnny Depp, one insurer of Heard is asking a court to rule it has no obligation to indemnify her. New York Marine and General …
Ford Recalls 100,000 Vehicles for Fire Risks, Expands Earlier Recall
Ford Motor Co. said July 8 it is issuing a new recall for 100,000 U.S. hybrid vehicles over fire risks, and expanding an earlier recall after a series of reported fires. The new recall covers certain 2020 through 2022 model-year …
New York Accuses Drug Firm Teva of Lying About Opioid Role
New York’s attorney general on Monday said Teva Pharmaceutical Industries Ltd. lied to evade accountability for helping fuel the state’s opioid crisis, and should be restored to litigation where the Israeli company’s U.S. unit had been found liable. In a …
Quake-Triggered Tsunami Would Hit Seattle In Minutes, New Report Shows
A new study published by the Washington State Department of Natural Resources shows a tsunami triggered by a major earthquake beneath Puget Sound would arrive at Seattle shores sooner and reach farther inland than previously thought. Models showed a tsunami …
Nursing Home Denied ‘Unconscionable’ Arbitration Where Patient Was Blind, Alone
A Pittsburgh nursing home has been barred from relying upon an arbitration agreement to settle a family’s wrongful death complaint where the arbitration papers had been signed by the deceased woman when she was blind, on medication and in severe …
Lloyd’s Prefers to Stay in Landmark London Headquarters, With the Right Terms
Lloyd’s has decided to stay in its landmark headquarters building at One Lime Street in London – as long as it receives acceptable terms for the renewal of its lease. In January, the market reportedly was conducting a review of …
Fire Damages Historic, 17th-Century Veranda House Inn on Nantucket
NANTUCKET, Mass. (AP) _ A fire ripped through a historic landmark on Nantucket Saturday morning, leaving the centuries-old structure heavily damaged. Firefighters battled the blaze that tore through the Veranda House inn, which dates back to the late 17th century. …
Canada Recovering From Major Telecom Outage
TORONTO/OTTAWA, July 8 (Reuters) – Rogers Telecommunications said its network was beginning to recover late on Friday after a 19-hour service outage at one of Canada’s biggest telecom operators shut banking, transport and government access for millions, drawing outrage from …
China Moves to Improve Domestic, International Standards Across Industries
China on Friday published an action plan to improve domestic standards across industries while increasing its participation in international standard-setting, from smart cities to food safety. The plan details the tasks to be undertaken before the end of 2023 to …
China Regulator Says Banks, Insurers to Go ‘All Out’ to Bolster Lending
An official at China’s banking and insurance regulator said authorities will use policy tools “flexibly and precisely” at proper times to stabilize the economy, while banks and insurers will “go all out” to bolster funding. Authorities will support an “appropriate” …
Weather Whiplash: Record-Shattering Yellowstone Floods Expose Model Flaws
The Yellowstone National Park area’s weather forecast the morning of June 12 seemed fairly tame: warmer temperatures and rain showers would accelerate mountain snow melt and could produce “minor flooding.” A National Weather Service bulletin recommended moving livestock from low-lying …